Angeles Investment Advisors LLC Sells 159 Shares of The Progressive Co. (NYSE:PGR)

Angeles Investment Advisors LLC lowered its stake in The Progressive Co. (NYSE:PGR) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,238 shares of the insurance provider’s stock after selling 159 shares during the period. Angeles Investment Advisors LLC’s holdings in Progressive were worth $297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. bought a new stake in shares of Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new position in Progressive during the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new position in shares of Progressive in the 4th quarter valued at $32,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PGR shares. BMO Capital Markets decreased their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Keefe, Bruyette & Woods boosted their target price on shares of Progressive from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday. Roth Mkm increased their price target on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Morgan Stanley raised their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group upped their target price on Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $281.06.

Progressive Stock Down 0.6 %

Shares of NYSE PGR opened at $273.08 on Monday. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company’s 50 day moving average price is $261.96 and its 200-day moving average price is $255.01. The company has a market capitalization of $160.08 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive’s dividend payout ratio is currently 2.78%.

Insider Buying and Selling

In other Progressive news, CIO Jonathan S. Bauer sold 1,696 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $282.66, for a total value of $479,391.36. Following the completion of the sale, the executive now directly owns 26,697 shares in the company, valued at approximately $7,546,174.02. This trade represents a 5.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,495 shares of company stock valued at $16,668,034 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.